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The key month for confidence to stabilize

The last November was a month in which the global economy saw light after multiple suppressions, and it was also a month in which China¡¯s economy stood out in the world. The tungsten market also bottomed out against the backdrop of a full-scale rebound in the non-ferrous market. Market prices rose slightly.     At the beginning of the month, the overall global economy was pessimistic. The U.S. election is inseparable. Brexit is approaching. The European epidemic has rebounded sharply. The unemployment relief workers in the United States have risen again. Oil prices have fallen sharply below the floor price of $40. On November 10th, Pfizer Pharmaceuticals made a major breakthrough in vaccine research and development. In a short period of time, the pharmaceutical industry, tourism industry, and transportation industry showed frequent benefits. The prices of non-ferrous metals, construction materials, and oil increased sharply. In addition, China successfully held the China International Import Expo. Global trade has brought confidence, the strong upward renminbi has stimulated increasing imports, and the market decline has been completely reversed.     In the tungsten market, prices continued to break through the psychological barrier during the continuous downturn that lasted for more than two months, and finally reached the psychological barrier of 80,000/ton tungsten ore prices, which was slightly deadlocked at 80,500/ton. Tungsten ore traders and hot money actively intervened, and the back-end processing companies keenly felt the price rebound trend, and replenished safety stocks one after another, driving the overall market to increase the volume. The price of 55 degree wolframite rebounded from 80,500/ton in a short period of time. At around 82,500 yuan/ton, the price of APT rebounded from a low of 123,000/ton to around 126,000/ton at present, and medium-particle tungsten carbide powder also rose from the lowest 186 yuan/kg to 195 yuan/kg.     In addition, although it is difficult for the export market to resume growth due to the impact of the epidemic, the price of tungsten products for export has also increased to varying degrees as domestic prices have gradually increased. It is worth noting that the steel industry has a strong momentum of development against the backdrop of China's economic and global economic recovery in the future, which has driven the rapid increase in consumer demand for ferro-tungsten, tungsten scrap and steel-making tungsten bars, and market prices have also increased.     Based on comprehensive analysis, the past November is destined to be a key footnote in the post-epidemic era. China relied on a strong government to form a joint anti-epidemic force and quickly cut the chain of transmission. Although there is a bit of an epidemic at present, the rapid blockade can basically be detected quickly. Due to democracy and freedom in Europe and the United States, it is difficult for individuals to move around freely, and multiple holidays in the second half of the year will increase regional transmission. Therefore, in the next six months or even longer, China will stand proudly at the forefront of the world¡¯s anti-epidemic trend. Great situation.

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